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India’s population is expected to grow under 0.5 per cent during 2031-41 due to decline in fertility rate and increase in life expectancy. These changes in India’s demography will also have implications such as the proportion of elementary school-going children will witness significant declines, lack of hospital beds and increase in retirement age. The related feature of business environment being described in the above lines is
Totality of external forces
Dynamic nature
Interrelatedness
Relativity
- Totality of external forces: This feature refers to all external factors, like economic, social, political, and technological forces that impact the business environment. Businesses must consider these forces in their decision-making processes.
- Dynamic nature: The business environment constantly changes due to factors like technological advances, policy changes, and market conditions. This dynamic nature requires businesses to be agile and adaptive.
- Interrelatedness: This refers to how different factors or changes in the business environment are connected. For instance, a demographic change like a declining fertility rate affects various sectors including education and healthcare.
- Relativity: This feature indicates that the impact of environmental forces can vary across businesses based on size, industry, and geographic location.
- Correct Answer: Interrelatedness: The passage highlights how demographic changes are interconnected with effects in education, healthcare, and labor.
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By: santosh ProfileResourcesReport error
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